Canadian Debt Reaches 8-Year High
Debt Repayment / Economic News / Personal Finance News

Canadian Debt Reaches 8-Year High

Bank of Canada Governor Mark Carney has repeatedly warned Canadians to simmer down on their borrowing costs – but that hasn’t stopped us from racking up a new 8-year record high debt level. According to credit bureau TransUnion, average Canadian debt levels (excluding mortgages) reached $26,221 in the second quarter – an increase of $192. Continue reading »